May 24, 2023

Cabot Options Institute Quant Trader – Alert (SPY)

SPDR S&P 500 ETF (SPY)

With 23 days left until expiration, I’ve decided to lock in profits on our SPY bear call spread. This marks 29 out of 33 winning trades since we started Quant Trader just under one year ago. Moreover, our total return is now hovering around 150%.

If you wish to hold on to the trade for a greater return, please be aware of the risks.

The Trade

Simultaneously:

Buy to Close SPY June 16, 2023, 430 call strike
Sell to Close SPY June 16, 2023, 435 call strike for a total of $0.35 (As always, the price of the spread will vary, so please adjust accordingly.)

Andy Crowder

Andy Crowder is a professional options trader, researcher and Senior Analyst at Cabot. Formerly with Oppenheimer & Co. in New York, Andy has leveraged his investment experience to develop his statistically based options trading strategy which applies probability theory to option valuations in order to execute risk-controlled trades. This proprietary strategy has been refined through two decades of research and real-world experience and has been featured in the Wall Street Journal, Seeking Alpha, and numerous other financial publications. Andy has helped thousands of option traders learn and implement his meticulous rules-driven options trading strategies through highly attended conferences, one-on-one coaching, webinars, and his work as a financial columnist. He currently resides in Bolton Valley, Vermont and when he’s not trading, teaching and writing about options, he enjoys spending time with his wife and two daughters, backcountry skiing, biking, running and enjoying all things outdoors.